This article first appeared on GuruFocus. Tesla (TSLA, Financials) is hitting turbulence in China. The company sold just over 26,000 vehicles there in October its weakest month in three years as fierce competition and cooling demand took a toll. That’s down nearly 36% from a year ago, according to the China Passenger Car Association. The…
The executive leading Tesla‘s Cybertruck business is leaving the Elon Musk-led automaker after eight years. Siddhant Awasthi, the program manager for Tesla’s Cybertruck and Model 3, said on LinkedIn that it wasn’t an easy decision to depart the company. He did not provide details on what he will be doing next. Awasthi said he began…
Elon Musk’s political lobbying is expected to wipe out about $1.4 billion in revenue for Tesla, according to Electrek — a shift that may affect electric vehicle buyers. Electrek links Tesla’s projected shortfall to regulatory changes by political candidates Musk has supported, noting that shrinking cleaner-vehicle incentive programs have reduced a revenue stream the company…
Electric vehicle maker Rivian has announced a compensation plan for CEO RJ Scaringe worth as much as $4.6 billion over the next decade. This follows the model established by Tesla CEO Elon Musk‘s record pay package and linking rewards to new profit targets and lower share price milestones than a previous deal. Rivian’s pay package…
International brands led by Tesla are intensifying their efforts to compete with Chinese electric-vehicle (EV) manufacturers like BYD, as they showcase advanced intelligence and autonomous-driving technology to attract visitors at the world’s largest import-export trade fair in Shanghai. The 12 major carmakers, including General Motors and Volvo, are leveraging the China International Import Expo (CIIE),…
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: The richest person in the world now has a clear path to become the first $1 trillion man. Elon Musk will have to hit key milestones, perhaps even improbable ones, to unlock record-breaking…
Topline Tesla shares declined more than 3% on Friday, cutting CEO Elon Musk’s fortune by $10 billion after the automaker voted to approve a compensation plan that could award the world’s richest person $1 trillion over the next decade—a move derided by some analysts and shareholders. An overwhelming majority of Tesla shareholders approved a payment…
Tesla (TSLA) shareholders approved CEO Elon Musk’s new pay package, one that could reach $1 trillion in overall compensation. Tesla said Musk’s package passed with over 75% approval. “I’d like to give a heartfelt thanks to everyone who supported the shareholder votes,” Musk said at the meeting. “I super appreciate it.” Musk added: “What we’re…
For Tesla’s board and many investors, CEO Elon Musk and Tesla’s success are closely linked. Now that a vote on a record-setting pay package for Musk is settled, the bulls are crowing and the naysayers are alarmed. On Thursday, 75% of Tesla shareholders voted to approve Musk’s proposed $1 trillion CEO pay package, contingent on…
Tesla shareholders on Thursday approved a new pay package for CEO Elon Musk that is potentially worth up to $1 trillion over a decade, despite some prominent investors criticizing the size of the compensation plan. The plan, one of the richest compensation packages in corporate history, would be delivered to Musk — the richest person in the…